Kazakhstan may limit banks’ lending to their shareholders

Kazakhstan may limit banks’ lending to their shareholders

To prevent the withdrawal of assets from the financial institutions of Kazakhstan, it is necessary to restrict legislatively the banks' lending to their shareholders, the chairman of the Senate of the Republic, Kassym-Zhomart Tokayev, said at the parliamentary hearings on the role of the banking sector in the development of the country's economy.

He stressed that the legislature is ready to take measures of reducing the risk of withdrawal of assets.

Tokayev added that the president of Kazakhstan, Nursultan Nazarbayev, criticized the activities of the troubled banks shareholders, demanding that they make their own investments for recovery and return of previously withdrawn money, RIA Novosti reports.

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